Expert Advocacy for Complex Divorce Issues Involving Business and Professional Practice 

A divorce attorney with expertise in business and professional practice valuation is crucial in this high-stakes situation. The experienced family lawyers at Pollitt & Stith specialize in high-income and high-asset cases requiring extensive legal knowledge, meticulous attention to detail, and a strategic focus on prioritizing your financial and emotional well-being.

The team at Pollitt & Stith is dedicated to guiding clients through the difficult and often confusing journey of divorce litigation. We specialize in complex cases involving business and professional practice valuation. Our attorneys take their role seriously when representing a client with sophisticated financials because we know the impacts divorce can have on your financial future. We emphasize personalized representation and consider all angles of a case, giving you proactive, forthright, but empathetic communications. Our attorneys understand the sensitive balance between your professional reputation and personal matters, offering a fortified strategy to safeguard your legacy with the utmost confidentiality. We use our expertise in business valuation to pave the way to a favorable outcome.

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Pollitt & Stith Delivers Trustworthy Representation with Proven Results

We look forward to meeting with you to discuss your specific case and review your options for resolution. Our history of successful outcomes for our clients is continued through our dedication to advanced legal knowledge, strategic litigation, and our firm's forward-thinking mindset regarding the future of the legal landscape. We tailor our representation for each case and collaborate with trusted experts to protect your best interests. We are well-versed in all aspects of business and professional practice valuation, including issues involving:

  • Premarital or Marital Agreements
  • Delineation of Community and Separate Property
  • Increases in Value during the Marriage
  • Personal Goodwill in a Professional Practice 
  • Tax Considerations
  • And Others
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Determining the Value of a Business or Professional Practice 

Valuing a business or professional practice involves determining its present worth based on earnings, assets, market position, and other factors such as enterprise goodwill and personal goodwill (as is frequently the case of a professional practice built on the unique skills and relationships developed by a doctor, dentist, attorney, or other professional). The date that the valuation must be concluded can also affect the assessed value of a business. The valuation date is typically the trial date or another date deemed equitable by the court.

Determining value requires insights from skilled forensic accountants, CPAs, tax experts, financial analysts, vocational experts, actuaries, real estate appraisers, and other specialists with specific knowledge of an area of business or practice.

Valuation Methods:

  • Asset approach: Value is based on the total assets minus its liabilities.
  • Market approach: Value is determined by comparing the business or practice to similar recently sold businesses.
  • Income approach: Valuation using the historical earnings and projected cash flows to estimate its value.
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Division Strategies

Once a business or practice is determined to be community property in whole or in part, and valuation has concluded, there are several ways of dividing this particular asset. We consider tax implications so liabilities can be minimized on both sides. We work to effectively negotiate based on the client's desired outcome, considering both immediate and long-term impacts. Options include:

  • Buying out other spouse’s share
  • Liquidation of the business and dividing proceeds
  • Continued joint ownership
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Consult with a Divorce Attorney who is a Leader in the Field

When it comes to sophisticated, high-value assets such as businesses and professional practices, you need a divorce lawyer with specific expertise in handling these aspects. Contact our Phoenix offices to schedule a time to discuss your case in a personal consultation. We are dedicated to navigating the complexities of high-net-worth divorce litigation with unparalleled expertise and integrity.

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